GaN Power Device Market Overview:

Global GaN Power Device Market was valued at $16 million in 2015, and is projected to reach $273 million by 2022, growing at a CAGR of 49.8% during the forecast period. Gallium Nitride (GaN) transistors have evolved as an enhanced performance substitute of silicon-based transistors, owing to their ability of fabricating more compact devices for a given resistance value and breakdown voltage as compared to silicon devices.

The demand for GaN power devices is globally expected to rise during the forecast period, due to reduction in price of GaN devices, better performance as compared to silicon carbide (SiC) devices, increase in requirement of GaN devices for commercial RF applications, and rise in demand of GaN devices for wireless charging. However, lack of availability of GaN material restraints the market growth. Government initiatives in High Voltage Direct Current (HVDC) and smart grid are anticipated to create new opportunities for the market growth during the forecast period.

Segment Overview

The global GaN power devices market is segmented on the basis of device, industry vertical, and geography.

Declining Prices

The GaN power transistors and GaN modules have appeared in the market recently. GaN has a wide band gap that offers comparable performance to SiC along with considerable cost reduction. This low price is possible, as the GaN power devices can be developed on silicon substrates that are easily available and incur less cost than SiC. GaN-on-Silicon (Si) devices are expected to achieve price parity with, and even superior performance as compared to silicon MOSFETs and insulated-gate bipolar transistors (IGBTs). This is expected to see boost market growth in terms of revenue. hence, decrease in prices of GaN power devices is expected to spur its faster adoption across various industry verticals.

Asia-Pacific is Expected to be the most Lucrative Region

The Asia-Pacific GaN Power Devices market is expected to grow at the highest CAGR during the forecast period, owing to the presence of several developing nations, industrialization, and globalization.

Geographically, the market is analyzed based on four regions, namely, North America, Europe, Asia-Pacific, and LAMEA.

GaN Power Device Market Key Segmentation:

By Device

GaN Power Discrete Devices

GaN Power ICs

GaN Power Modules

By Industry Vertical

Consumer Electronics

IT & Telecommunication

Automotive

Aerospace & Defense

Others

By Geography

North America

U.S.

Mexico

Canada

Europe

UK

Germany

France

Rest of Europe

Asia-Pacific

China

Japan

Taiwan

South Korea

Rest of Asia-Pacific

LAMEA

Latin America

Middle East

Africa

Key Players

Efficient Power Conversion Corporation (EPC)

Fujitsu Limited

GaN Systems

Infineon Technologies AG

On Semiconductors

Panasonic Corporation

Taiwan Semiconductor Manufacturing Company

Texas Instruments Inc.

Toshiba Corporation

VisIC

Other Players in the value chain include (profiles not included in the report):

STMICROELECTRONICS

Cree Incorporated

Renesas Electronics Corporation

ABB Group

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Gallium Nitride (GaN) has gradually emerged as a sustainable semiconductor material in imminent power electronic converters. The useful properties of GaN, such as its wide band gap and the prospect to form hetero structures, make the optimization of the power conversion possible. Although GaN power devices are in an initial phase, they have already surpassed the silicon counterparts. GaN is applied in optical and high-speed electronic devices, and has gained considerable impetus in recent years for power electronics applications. High-voltage transistors over 600 V have been reported to gain a high growth rate in terms of revenue. Over the past decade, the performance of GaN power devices has been quickly improving.

The preference of GaN over other wide band gap materials like Silicon Carbide (SiC) and diamond, as they offer similar, if not better performance than its counterparts in comparatively low cost. In addition, their advantageous properties, such as high frequency switching, and compact size, also help to spur their demand in the market. GaN switching devices are anticipated to replace metal oxide semiconductor field effect transistors (MOSFETs) in majority of the switching power supply applications in the coming years.

GaN Power Modules accounts for the majority of market share in the device segment, owing to their wide scale operation across several applications, such as high voltage applications where low current loss is a priority. GaN power ICs are anticipated to grow with a fast-paced rate in the forthcoming years.

The North American region held the highest share in the market, owing to the presence of developed nations that possess an established IT & telecommunication vertical, which has the highest revenue share in the market.